GIMARCO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GIMARCO
Largest movements
- Current investments -€120,478
down €120,478 (-100.0%), from €120,478 to €0
- Cash +€66,151
up €66,151 (+4086.8%), from €1,619 to €67,769
mainly Current investments (+€120,478) and Depreciation (+€37,209)
- Tangible fixed assets -€37,209
down €37,209 (-3.2%), from €1.2m to €1.1m
- Reserves -€50,896
down €50,896 (-7.7%), from €663,958 to €613,062
of which Distributable reserves: -€38,611
- Debts after one year -€43,442
down €43,442 (-6.8%), from €635,849 to €592,407
of which Financial debts: -€40,177
- Tax, wage and social debts -€26,870
down €26,870 (-95.8%), from €28,037 to €1,167
- Trade debts +€16,555
up €16,555 (+375.6%), from €4,408 to €20,963
- Gross operating margin +€15,148
up €15,148 (+346.5%), from €4,371 to €19,519
- Financial charges -€10,626
down €10,626 (-30.4%), from €34,936 to €24,309
- Other operating charges +€7,476
up €7,476 (+76.8%), from €9,738 to €17,213
- Taxes +€645
new in 2025: €645
- Financial income -€242
down €242 (-4.7%), from €5,108 to €4,866
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,607,636 | €1,501,877 | -€105,759 | -6.6% |
| Fixed assets | 21/28 | €1,170,258 | €1,133,049 | -€37,209 | -3.2% |
| Tangible fixed assets | 22/27 | €1,170,258 | €1,133,049 | -€37,209 | -3.2% |
| Land and buildings | 22 | €1,170,258 | €1,133,049 | -€37,209 | -3.2% |
| Current assets | 29/58 | €437,378 | €368,829 | -€68,550 | -15.7% |
| Amounts receivable within one year | 40/41 | €315,281 | €300,905 | -€14,376 | -4.6% |
| Trade receivables | 40 | €1,144 | €105 | -€1,039 | -90.8% |
| Other amounts receivable | 41 | €314,137 | €300,800 | -€13,337 | -4.2% |
| Current investments | 50/53 | €120,478 | €0 | -€120,478 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,619 | €67,769 | +€66,151 | +4086.8% |
| Deferred charges and accrued income | 490/1 | - | €154 | +€154 | |
| Total equity and liabilities | 10/49 | €1,607,636 | €1,501,877 | -€105,759 | -6.6% |
| Equity | 10/15 | €802,369 | €751,473 | -€50,896 | -6.3% |
| Contributions | 10/11 | €73,624 | €73,624 | = | 0.0% |
| Capital | 10 | €73,624 | €73,624 | = | 0.0% |
| Issued capital | 100 | €73,624 | €73,624 | = | 0.0% |
| Revaluation surpluses | 12 | €64,787 | €64,787 | = | 0.0% |
| Reserves | 13 | €663,958 | €613,062 | -€50,896 | -7.7% |
| Non-distributable reserves | 130/1 | €7,362 | €7,362 | = | 0.0% |
| Legal reserve | 130 | €7,362 | €7,362 | = | 0.0% |
| Tax-exempt reserves | 132 | €300,453 | €288,168 | -€12,285 | -4.1% |
| Distributable reserves | 133 | €356,142 | €317,531 | -€38,611 | -10.8% |
| Provisions and deferred taxes | 16 | €100,151 | €96,056 | -€4,095 | -4.1% |
| Deferred taxes | 168 | €100,151 | €96,056 | -€4,095 | -4.1% |
| Amounts payable | 17/49 | €705,116 | €654,349 | -€50,768 | -7.2% |
| Amounts payable after more than one year | 17 | €635,849 | €592,407 | -€43,442 | -6.8% |
| Financial debts | 170/4 | €632,584 | €592,407 | -€40,177 | -6.4% |
| Other amounts payable | 178/9 | €3,265 | €0 | -€3,265 | -100.0% |
| Amounts payable within one year | 42/48 | €69,267 | €61,942 | -€7,325 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €36,822 | €39,812 | +€2,989 | +8.1% |
| Trade debts | 44 | €4,408 | €20,963 | +€16,555 | +375.6% |
| Suppliers | 440/4 | €4,408 | €20,963 | +€16,555 | +375.6% |
| Taxes, remuneration and social security | 45 | €28,037 | €1,167 | -€26,870 | -95.8% |
| Taxes | 450/3 | €28,037 | €1,167 | -€26,870 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,146 | €37,209 | +€63 | +0.2% |
| Other operating charges | 640/8 | €9,738 | €17,213 | +€7,476 | +76.8% |
| Gross operating margin | 9900 | €4,371 | €19,519 | +€15,148 | +346.5% |
| Operating profit (loss) | 9901 | -€42,513 | -€34,903 | +€7,610 | +17.9% |
| Financial income | 75/76B | €5,108 | €4,866 | -€242 | -4.7% |
| Recurring financial income | 75 | €5,108 | €4,866 | -€242 | -4.7% |
| Financial charges | 65/66B | €34,936 | €24,309 | -€10,626 | -30.4% |
| Recurring financial charges | 65 | €34,936 | €24,309 | -€10,626 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | -€72,340 | -€54,346 | +€17,994 | +24.9% |
| Transfer from deferred taxes | 780 | €4,095 | €4,095 | = | 0.0% |
| Income taxes | 67/77 | - | €645 | +€645 | |
| Profit (loss) for the period | 9904 | -€68,245 | -€50,896 | +€17,349 | +25.4% |
| Transfer from tax-exempt reserves | 789 | €12,285 | €12,285 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,960 | -€38,611 | +€17,349 | +31.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.